STOCK MARKET: Sideways Toward the Election

The year 1976 started off so strongly on Wall Street that market analysts all but unanimously thought stock averages would push to record highs. As late as June, there were hopes that the rise would occur during the summer. Instead, brokers and investors have been sunning themselves on beaches, and hopes for a summer rally have finally disappeared in the past two weeks. Prices have drifted sideways on light volume during most of the hot weather, and are now ending the dog days with a downturn. The Dow Jones industrial average two weeks...

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